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Cable Update (GBPUSD)

  • #296,441
  • Jan 3, 2012 8:27am Jan 3, 2012 8:27am
Quoting PoundTrader
there are a lot of good traders in here, i think most will be very good if lower there t/p, i think unless your planning on holding a trade a very long time i say take the pips, im a swing trader but my trades only last about 1.5 days, pips average per week is between 100 - 150 pips and about 3 trades a week and im done. wish all well

if i get out of this trade i will trade max 5 day hold..monthly is a bit much
  • #296,442
  • Jan 3, 2012 8:33am Jan 3, 2012 8:33am
Quoting nAVIN2007
if i get out of this trade i will trade max 5 day hold..monthly is a bit much
i hear you on that, i don't think i can live with holding a trades for weeks or months and not seeing the results, i need to see my resluts either way stop loss get hit or t/p get hit. you got bigger balls then me to hold a trade that long , i't much easier if your trading multi-million dollar account.
  • #296,443
  • Jan 3, 2012 8:38am Jan 3, 2012 8:38am
Quoting PoundTrader
i hear you on that, i don't think i can live with holding a trades for weeks or months and not seeing the results, i need to see my resluts either way stop loss get hit or t/p get hit. you got bigger balls then me to hold a trade that long , i't much easier if your trading multi-million dollar account.

always from day one wanted to do this..just to see if i can and also to extend myself, make myself stronger..now i just need it to work out

also did it cause im working mon to friday but tuesday off!! and figured this was safer longer term..but getting fedup of the swop fees
  • #296,444
  • Jan 3, 2012 8:39am Jan 3, 2012 8:39am
checked usdx chart , bull still intact 79.25 not broken & easily do next bull in mofu action /extension .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd4.gif Size: 13 KB
Click to Enlarge Name: usd5.gif Size: 10 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #296,445
  • Jan 3, 2012 8:40am Jan 3, 2012 8:40am
Quoting PoundTrader
what do you mean by interbank market moves, you need something to tell you the market is moving one way or the other? don't understand
i mean charts without those typical shitty gaps at sunday openings on standard mt4 brokers
90% of traders use TA, indicators and prediction
  • #296,446
  • Jan 3, 2012 8:44am Jan 3, 2012 8:44am
Quoting _BBKing_
i mean charts without those typical shitty gaps at sunday openings on standard mt4 brokers
ok i see, does those gaps hurt your trading?
  • #296,447
  • Jan 3, 2012 8:53am Jan 3, 2012 8:53am
PM'd you Pound
  • #296,448
  • Jan 3, 2012 8:54am Jan 3, 2012 8:54am
Quoting nostradamus7
PM'd you Pound
ok, i think i got them all unless your sending another one
  • #296,449
  • Jan 3, 2012 8:58am Jan 3, 2012 8:58am
Quoting PoundTrader
ok i see, does those gaps hurt your trading?
well, bit hard to explain but... yes!
worst thing is that we miss main move around begin of the week.
not always important, ok but as you can see from fudomyo charts, EU daily trend is bit different in my standard chart looks like breaking up, while it is still into downtrend channel. its not such a small thing imo!

then whole charts are messed up at market re-openings in standard mt4! i mean: try to draw a TL in a timeframe, you will need to re-draw it at every sunday opening, due to that lack of data!
90% of traders use TA, indicators and prediction
  • #296,450
  • Jan 3, 2012 8:58am Jan 3, 2012 8:58am
Quoting Fudomyo
sent you a PM
tks
90% of traders use TA, indicators and prediction
  • #296,451
  • Jan 3, 2012 9:01am Jan 3, 2012 9:01am
Quoting fontu
a messy line h4 tf chart with many tl drawn before in home computer to see prices at closed level , actually for correction down time & next as limit down not hit & continue up but at that time still limit at top .
fontu
cheers mate.

I erased all of my GU trend lines after the holiday volatility except for a couple of solid Daily and Monthly lines to start the New Year.

A while back I came to the conclusion that the market is basically a dumb animal which goes for easy kills, but because we stare at charts all the time, it's easy to over think things.

here's what I'm looking at.

So far, the TLs show upside pressure and LTL failures on the Daily.

Very easy chart to read.
Attached Image (click to enlarge)
Click to Enlarge Name: gu new year tls.jpg Size: 136 KB
  • #296,452
  • Jan 3, 2012 9:06am Jan 3, 2012 9:06am
there she goes..
usd data is good..double bottom to confirm ..???????

trendline broke..momentum of weekly should follow through?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: chart3.jpg Size: 67 KB
  • #296,453
  • Edited 9:53am Jan 3, 2012 9:30am | Edited 9:53am
Quoting _BBKing_
ok i checked it but i see no mention about interbank market moves..
It's really simple, many MT4 brokers rely on liquidity from a limited number of sources. (in the worst case example, there was one MT4 broker a couple of years back which only relied on price from Citi. So, when Citi spiked, their traders got creamed even if the overall market didn't move as far) The less liquidity partners, the less competitive the pricing a broker can provide.

You want a feed that has a liquidity pool which includes the top (approximately 10) banks that provide the majority of liquidity for the Forex market, so the pricing you're looking at is closer to being representational of the actual Interbank market.

Because the market is decentralized, there are dark pools and other factors which don't give retail trader full access, but the more data access you have, the better.



edit: another interesting note is intraday volatility. I have some studies built for MT4 so watch it alongside my other feeds. MT4 has very low actual price volatility compared to eSignal/Trade Station/ Bloomberg on the lower timeframes. The charts will often show price moving down when it has already reversed on the other feeds or it will sometimes just sit static and "catch up" after the fact. I'm not sure if it's broker manipulation, but there's a lagging quality to it.


.
  • #296,454
  • Jan 3, 2012 9:52am Jan 3, 2012 9:52am
Quoting Fudomyo
cheers mate.

I erased all of my GU trend lines after the holiday volatility except for a couple of solid Daily and Monthly lines to start the New Year.

A while back I came to the conclusion that the market is basically a dumb animal which goes for easy kills, but because we stare at charts all the time, it's easy to over think things.

here's what I'm looking at.

So far, the TLs show upside pressure and LTL failures on the Daily.

Very easy chart to read.
Thanks , everything ok & semi-perfect so far , mofu does never care any waves to preserve within , here also so far , little exaggeration , of rejection any to retest again & very well before the decision next .
just take some back today . perfect mofu , gator Jindabad /long live !
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: usd5.gif Size: 13 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #296,455
  • Jan 3, 2012 9:57am Jan 3, 2012 9:57am
Quoting Fudomyo



edit: another interesting note is intraday volatility. I have some studies built for MT4 so watch it alongside my other feeds. MT4 has very low actual price volatility compared to eSignal/Trade Station/ Bloomberg on the lower timeframes. The charts will often show price moving down when it has already reversed on the other feeds or it will sometimes just sit static and "catch up" after the fact. I'm not sure if it's broker manipulation, but there's a lagging quality to it.


.
I wonder if this is why some brokers say u cheat..i never did understand how this is possible but u put forward a case for it
  • #296,456
  • Jan 3, 2012 10:02am Jan 3, 2012 10:02am
Quoting nAVIN2007
I wonder if this is why some brokers say u cheat..i never did understand how this is possible but u put forward a case for it
that is cheating, and most broker would relize this soone or later
  • #296,457
  • Jan 3, 2012 10:03am Jan 3, 2012 10:03am
Quoting Fudomyo
It's really simple, many MT4 brokers rely on liquidity from a limited number of sources. (in the worst case example, there was one MT4 broker a couple of years back which only relied on price from Citi. So, when Citi spiked, their traders got creamed even if the overall market didn't move as far) The less liquidity partners, the less competitive the pricing a broker can provide.

You want a feed that has a liquidity pool which includes the top (approximately 10) banks that provide the majority of liquidity for the Forex market, so the pricing...
good explanation about market liquidity thank you!
about broker's manipulation there is a whole library about imo! lol
my idea is that market is anyway manipulated on techs, but it is fundamentals which moves to breake levels.
actually im using fxpro, where i find good spreads and charts, also 1m charts looks clear. some other borker's m1 chart is totaly unreadable!

im trying to understand how to opne a free trial account in tradestation! lol
maybe i opened a real account!
90% of traders use TA, indicators and prediction
  • #296,458
  • Jan 3, 2012 10:05am Jan 3, 2012 10:05am
Quoting PoundTrader
that is cheating, and most broker would relize this soone or later
but that is just it..how the hell they gonna know..?
i wont do it anyway incase they thief meh money

why u think i long term trade?

answer:- internet connection can finish me off!!

maybe this is why think dont like scalping
  • #296,459
  • Jan 3, 2012 10:09am Jan 3, 2012 10:09am
Quoting nAVIN2007
I wonder if this is why some brokers say u cheat..i never did understand how this is possible but u put forward a case for it
I've seen cases where traders have tried to take advantage of latency and the Market Makers will shut them down for it.

But, if the broker is quoting bad prices who's cheating who?
  • #296,460
  • Jan 3, 2012 10:10am Jan 3, 2012 10:10am
i was posting a question about a possible short near 5615 but i was not sure about....
market answered before i clicked "submit reply" and also before i clicked the "sell button"
90% of traders use TA, indicators and prediction
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